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Business Outlook

This content was published on Sep 17, 2000 Only the wholesale and retailing group, Valora, is publishing numbers this week. They come through on Wednesday and analysts will be looking for an improved performance to give a boost to the company’s sluggish stock price. The franc’s rate on the currency markets will again be the subject of strong attention. It briefly reached a…

The week in Switzerland

This content was published on Sep 16, 2000 The plan was put forward in the United States on Monday, more than two years after the accord was reached. It proposes assigning $800 million to cover the claims of Holocaust victims or their heirs who failed to recover assets from dormant Swiss bank accounts. The remainder of the funds will go to people forced…

The business week in review

This content was published on Sep 16, 2000 The week began with Opec’s decision to boost oil production by 800,000 barrels a day but the increase was criticised as insufficient by Western experts. The increase had no noticeable effect on the oil price, prompting road hauliers and farmers to blockade roads and refineries in a bid to force their governments to cut fuel…

New unit probes causes of premature births

This content was published on Sep 15, 2000 Around seven per cent of all babies born in Switzerland are delivered pre-term, that is before the 37th week of pregnancy. This figure is around 10 per cent in Geneva, which has a special premature baby unit. But these figures are only estimates because many private hospitals are loath to release figures for fear of…

Details of Luxor massacre compensation deal announced

This content was published on Sep 15, 2000 Fifty-eight tourists, including 36 Swiss, were shot dead by Islamic extremists outside a temple in the Egyptian town of Luxor on November 17. The Swiss justice ministry said on Friday the Luxor Commission had made a final ruling on eligibility for payouts based on the principles of liability. The money from the fund is supposed…

Government-sponsored heroin programme: last resort for worst cases

This content was published on Sep 15, 2000 The number of places open to addicts who can enter the federal government’s heroin prescription programme has risen to 1,200. The figure represents an increase of 400 from two years ago when the programme was still considered a scientific experiment. The figure emerged from the annual report of the Swiss Federal Office of Public Health…

Gehrig leads race to be Central bank boss

This content was published on Sep 15, 2000 Gehrig leads race for Central bank boss The proposal now goes to the government for approval. A final decision is expected in the next few weeks. The 40-member bank council also nominated the chief executive of the Swiss Bankers’ Association, Niklaus Blatter, to join the SNB’s three-member directorate. Gehrig is one of two vice-presidents at…

700 Swiss jobs rescued at Adtranz

This content was published on Sep 15, 2000 Adtranz announced on Friday that it had signed an accord with Dutch investment and redevelopment group, Business Creation, to keep the plants open and to try and save all jobs at the sites. It said the actual number of jobs would depend on the size of contracts obtained from the Swiss Federal Railways. Under the…

Ascom shareholders support single share structure

This content was published on Sep 15, 2000 Only four months after decisively rejecting the change, shareholders on Friday voted by a 90 per cent majority for the proposal. The idea had been put forward by the financier, Ernst Müller-Möhl, who died in a plane crash in May, and the issue was pursued by his heirs. Müller-Möhl controlled almost 20 per cent of…

Heineken sets sights on Swiss brewer

This content was published on Sep 15, 2000 At a news conference in Amsterdam, Heineken’s chief executive, Karel Vuursteen, declined to elaborate on the status of the talks. However, he did say that Heineken wasn’t the only contender. Hurlimann-Feldschlösschen says there is great interest both at home and abroad and expects a sale by the end of the year. Analysts say Swiss Eichhof…

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Business Outlook

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New unit probes causes of premature births

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Details of Luxor massacre compensation deal announced

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Government-sponsored heroin programme: last resort for worst cases

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Gehrig leads race to be Central bank boss

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700 Swiss jobs rescued at Adtranz

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Ascom shareholders support single share structure

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Heineken sets sights on Swiss brewer

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